Female-founded startups secured just $8.5 million with a total of two transactions. It made for puzzling reading, given that the region’s startup ecosystem, particularly in the Gulf, is thriving, with more women choosing to launch their own businesses. Abu Dhabi alone recorded 3,058 new business licenses issued to Emirati women in the first half of
Saudi Arabia’s closure of a major oil pipeline after a recent attack is raising fears that global energy markets in crisis because of the war with Iran could face even starker shortages, pushing prices higher for fuel and other essentials. The largest oil producer in the Middle East closed its East-West pipelineon Friday after the attack, which it blamed on
Attacks on a key Saudi oil pipeline were launched from Iraqi territory, said Iraq’s government on Saturday, pledging to probe further. U.S. President Donald Trump appeared to blame Iran for the attack that halted the pipeline. Iraq closed two key border crossings with Iran, halting all passenger and commercial traffic until further notice, Iran’s state-run
After weeks when Middle East diplomacy seemed dead in the water, a rare meeting between Iran and its Persian Gulf neighbors has renewed hope for a deal that could fully reopen the Strait of Hormuz. Foreign ministers from the Gulf Cooperation Council—which is comprised of Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, and Oman—will meet
Welcome to this week’s Fortune Gulf Brief. Regular readers might notice a different author byline today, that’s because Melissa is taking a well-earned break although, knowing journalists, probably with one eye on her phone and what’s happening in the Gulf. Ordinary service resumes next week. Until then, I’m Inzamam Rashid, international journalist and broadcaster based
Yemen’s Houthis attacked a crucial port on the Red Sea, killing people and further escalating the conflict over strategic waterways in the Middle East. They also said they attacked an oil facility on Sunday in southwestern Saudi Arabia, the latest attack by the Iranian-backed rebels on the kingdom. Meanwhile, Iran has made new demands about the restart of